Entrepreneur Laamanen dies suddenly

Posted By DENIS ST. PIERRE, THE SUDBURY STAR

Posted 3 hours ago

Risto Laamanen, one of Greater Sudbury's most successful entrepreneurs and c ommuni t y leaders, has died.

Laamanen, the founder of Wallbridge Mining Company Ltd. and Laamanen Construction, died Tuesday in his home.

"It was unexpected," said Alar Soever, Wallbridge Mining's president and a friend of Laamanen's for several years.

"He was a great man and he was a big believer in Sudbury," Soever said.

Laamanen launched his construction company in the early 1970s. Focusing primarily on industrial and commercial projects, he built the firm into a highly successful enterprise over the next three decades.

In the mid-1990s, Laamanen expanded his business ventures by founding a mineral exploration company, Wallbridge Mining. The private company later went public and its shares were listed on the TSX.

Wallbridge has a portfolio of dozens of properties and exploration projects, mostly in Sudbury, but also elsewhere in Ontario and in the United States. The company also has struck joint venture deals with the likes of Vale Inco and Xstrata Nickel.

"Risto took the company public and he was a real leader in moving it forward," Soever said. "It's uncommon to find somebody with that kind of perseverance and commitment to something."

But Laamanen's contributions to his community went far beyond his considerable business success, Soever added.

Laamanen volunteered and served on boards of several local organizations and institutions. He was a member of Cambrian College's board of governors for several years. Later he helped found the college's fundraising arm, Cambrian Foundation, and served as its first chairman.

In the mid-1990s, Laamanen also began contributing his time and influence to fundraising efforts at Science North. He served as chairman of Science North's board of directors and was instrumental in the success of fundraising for Dynamic Earth.